Goldman Sachs BDC (NYSE:GSBD) Stock Rating Raised to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks reports.

A number of other equities analysts have also recently commented on the stock. Truist Financial lifted their price objective on shares of Goldman Sachs BDC from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. The Goldman Sachs Group cut shares of Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 target price for the company. in a research note on Thursday, July 9th. Bank of America reaffirmed an “underperform” rating and set a $8.50 target price (down from $9.00) on shares of Goldman Sachs BDC in a report on Thursday, July 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Goldman Sachs BDC in a research note on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $8.75.

Goldman Sachs BDC Stock Performance

GSBD opened at $9.09 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.36. Goldman Sachs BDC has a 12-month low of $8.35 and a 12-month high of $10.38. The business has a 50 day moving average of $9.57 and a 200-day moving average of $9.33. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 17.48 and a beta of 0.60.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, August 6th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. Goldman Sachs BDC had a return on equity of 11.04% and a net margin of 17.19%.The business had revenue of $35.08 million for the quarter, compared to analyst estimates of $78.89 million. On average, equities research analysts expect that Goldman Sachs BDC will post 1.29 earnings per share for the current year.

Goldman Sachs BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.28 annualized dividend and a yield of 14.1%. Goldman Sachs BDC’s dividend payout ratio (DPR) is presently 246.15%.

Institutional Investors Weigh In On Goldman Sachs BDC

A number of institutional investors have recently modified their holdings of GSBD. Tidal Investments LLC grew its stake in shares of Goldman Sachs BDC by 5.5% in the second quarter. Tidal Investments LLC now owns 58,686 shares of the financial services provider’s stock valued at $556,000 after acquiring an additional 3,048 shares in the last quarter. Cidel Asset Management Inc. acquired a new stake in Goldman Sachs BDC in the 2nd quarter worth about $571,000. Integrated Wealth Concepts LLC bought a new stake in Goldman Sachs BDC in the 2nd quarter valued at about $89,000. HB Wealth Management LLC boosted its holdings in Goldman Sachs BDC by 61.4% in the 2nd quarter. HB Wealth Management LLC now owns 96,865 shares of the financial services provider’s stock valued at $918,000 after purchasing an additional 36,850 shares during the period. Finally, Compass Financial Management LLC acquired a new position in shares of Goldman Sachs BDC during the 2nd quarter worth approximately $522,000. Institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc (NYSE: GSBD) is a business development company that invests in privately held, middle-market businesses. The company seeks to generate income and provide long-term capital appreciation by making investments primarily in debt securities and, to a lesser extent, equity interests.

Goldman Sachs BDC’s portfolio typically includes senior secured loans, unitranche loans, second-lien loans and subordinated debt, along with equity investments such as warrants or other ownership interests.